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Podcast: Farm4Profit Podcast
Episode: 5 Tax Tips Every Farmer Should Know from Credit Karma
Description: 5 tax tips every farmer should knowCredit Karma Tax® 1. Know whether your farming activity countsWho does the IRS consider a farmer? If you grow veggies in your backyard garden on the side and sell them at a roadside farm stand, does that qualify you as a farmer?The IRS says you’re a farmer if you “cultivate, operate or manage a farm for profit, either as an owner or a tenant.” Farms include plantations, ranches, ranges, orchards and groves, and you can raise livestock, fish or poultry, or grow fruits and vege...